Is it Possible to Scale Pledge Agreements to More Donors?
Donors With Pledge Agreements Fulfill Their Gifts
When fundraisers have a donor who gives $10 million and will have a building named in their honor, it's only natural to pull together a formal gift agreement. Despite the effort that goes into creating this gift or pledge agreement, the review cycles it requires, and the fine details – this work is all worth it because of the return. And, when we're expecting such a large gift, the gift agreement not only gets everyone on the same page, but it also ensures that the donor will follow through – gift fulfillment rates soar past 96% when a donor has a gift agreement.
Any fundraising leader would love to be 96% certain that a gift will come in. This certainty is amazing from leadership and administrative perspectives. And, if a pledge contains proper documentation (amount of the gift, a due date/payment schedule, the gift designation, and confirmation of a donor's intent), it's actually bookable as revenue. That means an organization's ability to forecast is greatly improved with each gift agreement they have with donors. So why don't we scale gift and pledge agreements to gifts of all sizes?
The Pledge Agreement Process is Stuck in the Past
The truth is that no organization can afford to invest the resources it typically takes to draw up agreements for a $50 gift – and few donors would want to bother with an agreement. The majority of organizations use a manual pledge process. They might mail donors a pledge to fill out and mail back. Or, if they're a step beyond, they might send donors a PDF to download, print, scan, and return. The effort just isn't worthwhile for fundraisers or donors for lower-level gifts.
This seems ironic because fundraising leaders have spent the last decade modernizing the process of online charitable giving, greatly improving the donor experience. However, the pledge process is still stuck ten years behind.
Modern Pledge Agreements: Digital-First
Think of the digital modernization that we've seen in fundraising over the last decade. Believe it or not, there was a time that organizations didn't have giving pages and prestigious fundraising leaders did not believe online giving was even appropriate. But, in the last decade, we've learned a lot. We've learned that donors love the convenience and ease of giving online. We've learned how to decrease cart abandonment on giving pages and basically brought the act of giving to a single-click experience.
Givzey is the only solution that focuses this same attention on the pledge agreement process.
Digital Pledge Agreements & Digital Gift Agreements
Digital Gift Agreements upgrade the pledge agreement process to a one-click experience for donors, and something that's so easy for fundraisers, that they can do it mid-conversation as they talk to a donor.
Givzey simplifies the pledge process so greatly with digitization and automation, that it suddenly becomes a process that can be scaled to donors of all sizes.
Digital gift agreements capture the gift's size, payment schedule, designation, and donor confirmation in a single click.
From a donor's perspective, they have a digital document delivered directly to their inbox that they can immediately click and confirm intent. And, through automation, they're automatically reminded when the gift is due.
Pledge Agreements at Scale
By converting to Digital Gift Agreements, nonprofit organizations are seeing the amazing benefits of expanding gift and pledge agreements to donors and gifts of all sizes. From more precise and predictable forecasting to fundraiser effectiveness and efficiency, even improving a world-class donor experience, Digital Gift Agreements are game-changing.